Xponance Inc. Reduces Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Xponance Inc. cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 4.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,128 shares of the shipping company’s stock after selling 359 shares during the quarter. Xponance Inc.’s holdings in Golar LNG were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG in the 3rd quarter worth approximately $32,000. USA Financial Formulas bought a new position in Golar LNG in the fourth quarter worth approximately $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Golar LNG during the 4th quarter worth $107,000. Blue Trust Inc. grew its position in shares of Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock valued at $126,000 after acquiring an additional 1,603 shares during the period. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Golar LNG in the 4th quarter worth $141,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Thursday, March 20th. Finally, Stifel Nicolaus lifted their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.13.

Golar LNG Trading Down 1.3 %

Shares of GLNG opened at $39.22 on Friday. The business’s 50 day moving average is $38.71 and its 200 day moving average is $38.59. Golar LNG Limited has a 12-month low of $23.71 and a 12-month high of $44.36. The company has a market capitalization of $4.09 billion, a PE ratio of 280.16 and a beta of 0.78.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is presently 208.33%.

Golar LNG Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.